Industrial

Owning or leasing industrial space in New Jersey means you’re within one day’s drive of one-third of the nation’s population. That means the state continues to be a hotbed of warehouse and logistics activity.

Industrial
Logistics firm takes 19,000 sq. ft. at new-look building in Teterboro

A supply chain solutions firm has leased nearly 20,000 square feet in Teterboro, under a newly announced transaction by NAI James E. Hanson.

People
Petrucci announces promotion, names director of property management

By Joshua Burd J.G. Petrucci Co. Inc. has announced a promotion within its property management team. The Asbury-based developer said Wednesday that it elevated Joni Elekes to director of property management. In the new position, she will continue to be…

Government & Public Policy
Longtime EPA official joins Kearny Point team, with a focus on green initiatives

Hugo Neu Group has bolstered the team overseeing its landmark Kearny Point project, tapping a longtime federal official to oversee environmental initiatives at the 130-acre site.

Industrial
Liberty adds industrial buildings in Meadowlands, Edison for $52 million

Liberty Property Trust has expanded its industrial holdings in New Jersey, acquiring properties in the Meadowlands and Edison for a combined $51.8 million.

Industrial
BRC: Rahway warehouse fetches $19.8 million

A buyer has paid nearly $20 million for a 256,000-square-foot industrial facility in Rahway, in a newly announced transaction by Bussel Realty Corp.

Professional Services
Savills drops ‘Studley’ from name as part of U.S. rebrand, global focus

Tenant advisory firm Savills Studley is dropping the second half of its name as part of a new rebranding campaign — one that includes commercials during the upcoming NCAA men’s basketball tournament.

Top News
JLL to acquire HFF for $2 billion

Real estate services giant JLL has agreed to acquire HFF for roughly $2 billion, greatly bolstering its platform with one of the industry’s leading capital markets firms.

Events
NAIOP reveals deal of the year finalists for upcoming gala

NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.

Government & Public Policy
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson

The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.

Government & Public Policy
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building

A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.